Yodlee MoneyCenter

Free
Reviewed
April 2010
Yodlee MoneyCenter

Pros
  • Can pay bills and transfer money from the site
  • Can split transactions and enter them manually
  • Tracks virtually any kind of account
  • Connects with over 11,000 financial institutions
Cons
  • Must provide login information for all accounts
  • Not user-friendly

Yodlee has long provided account aggregation services for other companies, and launched its own personal finance site in 2006. Yodlee MoneyCenter provides automatic account aggregation and updates, and can track virtually any type of account. You can do things here that you can't do on most other sites: pay bills and transfer funds without leaving the site; split transactions; enter transactions manually; create reports showing spending trends; and even track your net worth. Reviewers love its robust functionality, but most say it's not user-friendly. If you don't need all the bells and whistles but do want a user-friendly interface, Mint.com (Free) may be a better choice, say experts, who praise Mint.com's ease of use.

We found the most thorough single-product reviews of Yodlee at PCMag.com and SoundMoneyMatters.com; briefer ones are offered by GeekyWeekly.com and BrokeGradStudent.com. The best comparative reviews we found are those by ConsumerReports.org and CNNMoney.com.

Our Sources

1. PCMag.com

The editors of PCMag give Yodlee MoneyCenter a rating of 4 out of 5, or very good. In the review written by Kathy Yakal, she says what most reviewers do: "As the engine for numerous financial institutions, Yodlee MoneyCenter was a pioneer in account aggregation. That shows in the depth of its features—and the outdated interface."

Review: Yodlee MoneyCenter, Kathy Yakal, April 3, 2009

2. ConsumerReports.org

ConsumerReports.org provides very brief reviews of four personal finance sites including Yodlee MoneyCenter. They describe a few of the things you can do on the site, and conclude that Yodlee is the "most comprehensive online program we tested."

Review: Budgeting by Computer, Editors of ConsumerReports.org, July 2009

3. CNNMoney.com

This comparative review rates four free personal finance websites: Mint.com, Yodlee MoneyCenter, Quicken Online and Wesabe.com. Yodlee MoneyCenter is named the most comprehensive of the four, but loses points because of its no-frills user interface.

Review: All Your Money At a Glance, Joe Light, Dec. 2, 2008

4. SoundMoneyMatters.com

This single-product review takes the reader through Yodlee MoneyCenter's features with screenshots, then lists positives and negatives about the online software. In the end, the reviewer writes: "I was impressed with Yodlee," although "it's not as intuitive as Mint."

Review: Free Money Management Software: Yodlee Review, Editor of SoundMoneyMatters.com

5. BrokeGradStudent.com

Blogger "Broke Grad" gives mini-reviews of six personal finance sites, including Yodlee MoneyCenter. He likes Yodlee, writing that it "was the first site that supported automatically tracking all of my accounts -- checking, savings, student loan, credit cards, and retirement -- back when I first discovered these sites last year."

Review: 6 Cool Ways to Track Your Expenses Online, "Broke Grad"

6. GeekyWeekly.com

This unnamed blogger describes how Yodlee MoneyCenter works, noting that Yodlee software provides account aggregation services for major banks like Bank of America. He finds Yodlee easy to use and highly functional: "My time spent dealing with finances has gone down while the awareness of my financial situation has gone up."

Review: Using Yodlee MoneyCenter to Track Spending and Aid Budgeting, Editor of GeekyWeekly.com, Mar. 17, 2008

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